Veeco Instruments (VECO) shares are trading sharply higher after a bullish note this morning from J.P. Morgan analyst Christopher Blansett, who repeated his Overweight rating and $75 target price on the LED manufacturing equipment company’s stock, which closed Friday at $43.99.

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He says weakness in the shares is likely to be short-lived “as we expect news flow over the next few months to be positive for LED demand and drive upside revisions [to] unit demand for LED backlighting and general lighting applications.He points out that the market for MOCVD equipment - metal-organic chemical vapor deposition - which is used to create LEDs is a duopoly shares by Veeco and Aixtron (AIXG). “Instead of being concerned about share between Veeco and Aixtron, we think investors should view the market as a duopoly, where neither play is willing to lower price in order to gain share,” he writes. “We think this is a more favorable scenario than exists in most other tech hardware sectors, where a large number of competitors are continually undercutting each other in order to gain share.”

#153 ATPG shares are currently by far the largest position in the "fund" (currently 57930 shares) and AIXG is the second largest position (currently 7110 shares). They are also among my largest positions. So, yes, I think it is a good idea to hold them.